Dimensional Fund Advisors LP Reduces Stake in Simpson Manufacturing Company, Inc. $SSD

Dimensional Fund Advisors LP lessened its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 2.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 886,805 shares of the construction company’s stock after selling 22,743 shares during the period. Dimensional Fund Advisors LP owned 2.11% of Simpson Manufacturing worth $139,296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SSD. Kestra Private Wealth Services LLC increased its stake in Simpson Manufacturing by 2.5% in the first quarter. Kestra Private Wealth Services LLC now owns 2,965 shares of the construction company’s stock valued at $466,000 after purchasing an additional 71 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Simpson Manufacturing by 1.4% in the 1st quarter. Apollon Wealth Management LLC now owns 5,404 shares of the construction company’s stock valued at $849,000 after buying an additional 74 shares in the last quarter. Xponance Inc. grew its position in shares of Simpson Manufacturing by 1.5% in the 1st quarter. Xponance Inc. now owns 5,262 shares of the construction company’s stock valued at $827,000 after buying an additional 78 shares during the last quarter. CWM LLC raised its stake in Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company’s stock worth $52,000 after acquiring an additional 93 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in Simpson Manufacturing by 1.0% in the first quarter. State of Michigan Retirement System now owns 10,127 shares of the construction company’s stock valued at $1,591,000 after acquiring an additional 100 shares during the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, DA Davidson raised their price objective on Simpson Manufacturing from $180.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.50.

Simpson Manufacturing Trading Down 1.9%

Shares of Simpson Manufacturing stock opened at $188.2730 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. The company has a market capitalization of $7.84 billion, a P/E ratio of 24.01 and a beta of 1.26. Simpson Manufacturing Company, Inc. has a 1 year low of $137.35 and a 1 year high of $197.82. The company’s fifty day moving average is $168.47 and its two-hundred day moving average is $161.81.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The business had revenue of $631.06 million during the quarter, compared to analysts’ expectations of $601.80 million. During the same period in the prior year, the company earned $2.31 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. Analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is 14.80%.

Insider Activity

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the completion of the sale, the executive vice president owned 7,794 shares in the company, valued at $1,389,436.38. This represents a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.42% of the company’s stock.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.